Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $660 weredeclared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of theyear for $3,240 in cash (for a total at the end of the year of 920 shares). These effects are included below:Catena's Marketing CompanyAdjusted Trial BalanceEnd of the Current YearCashAccounts receivableInterest receivablePrepaid insuranceLong-term notes receivableEquipmentAccumulated depreciationAccounts payableDividends payableAccrued expenses payableIncome taxes payableUnearned rent revenueCommon Stock (920 shares)Additional paid-in capitalRetained earningsSales revenueRent revenueInterest revenueWages expenseDepreciation expenseUtilities expenseInsurance expenseRent expenseIncome tax expenseTotalBalance, January 1Net incomeShare issuanceDividends declaredBalance, December 31✓✓✓Debit$1,5602,3201241,7203,40016,49020,7002,040$428858Prepare a statement of stockholders' equity for the current year.Note: Reductions in account balances should be indicated with a minus sign.CommonStockCredit$3,2402,6406604,0401,82442 $560929,2401,800$60,680 $60,68050 ✓3,7401,64041,260860124CATENA'S MARKETING COMPANYStatement of Stockholders' EquityFor the current yearAdditionalPaid-inCapitalAnswer is not complete.730RetainedEarnings$2,1207,178$TotalStockholders'Equity2,8927,178

Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $660 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,240 in cash (for a total at the end of the year of 920 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (920 shares) Additional paid-in capital Debit $1,560 2,320 124 1,720 3,400 16,490 Credit $3,240 2,640 660 4,040 1,824 560 92 3,740

Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $660 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,240 in cash (for a total at the end of the year of 920 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (920 shares) Additional paid-in capital Debit $1,560 2,320 124 1,720 3,400 16,490 Credit $3,240 2,640 660 4,040 1,824 560 92 3,740

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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